Silver Rate per Gram vs per Kg: How to Read It
Key takeaways
- Per-gram rate = per-kg rate ÷ 1,000; per 10 g = per-kg rate ÷ 100.
- MCX quotes 999 silver futures per kg without tax; shop rates add premium, GST and making charges.
- GST on silver is 3% as of 2026 and is usually added on the invoice.
- 925 jewellery is valued at about 92.5% of the 999 rate for the same weight.
- Check hallmark purity and the HUID in the BIS Care app for hallmarked items.
To find the 1 gram silver rate today, divide the per-kg rate by 1,000: if silver is quoted at ₹2,40,000 per kg, one gram of 999 silver costs about ₹240 before GST. Per-gram rates suit coins and jewellery buyers, per-kg rates suit traders and bulk bars, and both describe the same underlying price.
Silver prices in India are published in several units at once, per gram, per 10 grams, per 100 grams and per kilogram, and sources such as MCX, the India Bullion and Jewellers Association (IBJA) and retail jewellers each quote them a little differently. That is why two websites can show different numbers on the same morning. This guide explains how to convert between units, why the exchange price and the shop price differ, how GST and making charges change your bill, and how to use the BIS hallmark to check purity. For the latest numbers, keep our silver rate today page open while you read.
1 Gram Silver Rate Today: Per Gram vs Per Kg Conversions
The unit conversions never change, so once you know one rate you can work out the others in your head. The table uses an illustrative rate of ₹2,40,000 per kg of 999 silver to keep the arithmetic simple; it is not a live price.
| Quantity | Conversion from per-kg rate | Value at ₹2,40,000/kg (illustration) |
|---|---|---|
| 1 gram | Per-kg rate ÷ 1,000 | ₹240 |
| 10 grams | Per-kg rate ÷ 100 | ₹2,400 |
| 1 tola (≈ 11.66 g) | Per-gram rate × 11.66 | ≈ ₹2,798 |
| 1 troy ounce (31.1035 g) | Per-gram rate × 31.1035 | ≈ ₹7,465 |
| 100 grams | Per-kg rate ÷ 10 | ₹24,000 |
| 1 kilogram | Quoted directly | ₹2,40,000 |
Two units cause most confusion. The tola is a traditional Indian unit of about 11.66 grams, but some rate websites round it to 10 or 12 grams, so check which figure a site uses. The troy ounce is the international unit in which silver trades on COMEX and in the London market overseen by the London Bullion Market Association (LBMA); it is 31.1035 grams, heavier than an ordinary ounce.
Quick mental maths
- Per kg to per gram: drop three zeros. ₹2,45,000 per kg ≈ ₹245 per gram.
- Per gram to per 10 g: add one zero. ₹245 per gram = ₹2,450 per 10 g.
- A ₹1,000 move per kg equals just ₹1 per gram, which is why per-gram boards often look unchanged even when per-kg prices move.
Why the Silver Rate Differs: MCX vs Retail
The price you see on a business channel is usually the MCX futures price, quoted in rupees per kilogram. The price at a jeweller's counter is a retail price. They are linked but not identical.
| Feature | MCX futures price | Retail (shop) price |
|---|---|---|
| Unit quoted | ₹ per kg | ₹ per gram, 10 g or kg |
| Purity basis | 999 fine silver | 999 for coins and bars; 925 or lower for jewellery |
| Minimum quantity | Contract lots in kilograms (check MCX contract specifications) | As little as 1 gram |
| Delivery date | A future expiry month | Immediate |
| Taxes included? | No | Usually shown before 3% GST, which is added on the bill |
| Extra charges | Brokerage and exchange fees | Dealer premium, making charges on articles |
| Changes | Continuously during trading hours | Typically once or twice a day |
Futures can trade above or below the spot price depending on interest costs and time to expiry, and retail prices also include the local dealer's premium and transport costs. Rates also vary between cities; sources often show southern cities such as Chennai and Hyderabad a little higher than Mumbai or Delhi on the same day. International prices, the rupee-dollar exchange rate, import duty and industrial demand all feed into the base price.
What You Actually Pay: GST, Making Charges and Purity
The 1 gram silver rate today is only the metal value. Your invoice adds tax and, for anything other than plain bars and coins, making charges. As of 2026, GST on silver is 3% on the value of the goods.
| Item | Metal value basis | Making / premium | GST | What to watch |
|---|---|---|---|---|
| 999 silver bar (1 kg) | Per-kg rate | Small premium | 3% | Assay certificate, brand, weight |
| 999 silver coin (10 g) | Per-gram rate × 10 | Minting premium | 3% | Packaging seal, purity mark |
| 925 sterling jewellery | Rate × 0.925 × weight | Often a sizeable percentage or per-gram charge | 3% on the jewellery value | Hallmark and HUID |
| Silver utensils / pooja items | Rate × purity × weight | Per-gram labour | 3% on the article value | Actual purity, often below 999 |
| Silver ETF | Tracks domestic silver price | Expense ratio, no making charges | No GST on units | Brokerage, tracking error |
Worked example: buying 10 g of silver
Assume the per-gram rate is ₹245 (999 silver). Ten grams of metal is ₹2,450. A coin might carry a small premium; a 925 bracelet of the same weight would be valued at 92.5% purity, about ₹2,266 of metal, plus making charges. Add 3% GST on the total value. On a ₹2,450 coin with no premium, GST adds about ₹74, giving roughly ₹2,524. These are illustrative numbers; check the day's rate and the jeweller's charges before buying.
Silver purity grades and hallmarking
The Bureau of Indian Standards revised its silver standard as IS 2112:2025, which recognises seven purity grades: 800, 835, 925, 958, 970, 990 and 999. Under the new format a hallmark has three parts: the BIS mark with the word SILVER, the purity grade and a six-character HUID code. HUID-based silver hallmarking began on a voluntary basis from 1 September 2025, as announced in a Press Information Bureau release; check BIS for whether it has since become mandatory for the item you are buying. Hallmarked items can be checked in the BIS Care app, which shows purity, article type and the testing centre.
Small coins cost more per gram than big bars
The smaller the piece, the larger the premium per gram. Minting, packaging, assay and retail margin are costs that barely change between a 10 g coin and a 100 g bar, so they weigh far more heavily on the small coin. If your goal is to accumulate silver at close to the 1 gram silver rate today, larger bars or a Silver ETF usually come closer to the market price than gift coins. If your goal is a festival gift or a pooja item, the premium is part of what you are paying for, and that is fine as long as you know it is there. Before buying, divide the total price including GST by the weight in grams and compare that effective per-gram cost with the board rate.
Per Gram or Per Kg: Which Rate Should You Track?
Track the unit that matches how you buy. The per-kg rate is the most precise signal of market direction, because small moves show up clearly. The per-gram rate is what you actually pay when buying coins, gifts or jewellery.
| Buyer type | Rate to watch | Why |
|---|---|---|
| Jewellery or gift buyer | Per gram (and per 10 g) | Matches the shop invoice |
| Coin collector | Per gram, plus premium | Premiums matter more on small coins |
| Bar buyer (100 g to 1 kg) | Per kg | Bars are priced off the kg rate |
| Futures trader | MCX per kg | Contracts are quoted and settled per kg |
| Long-term investor | Per kg trend, or ETF NAV | Direction matters more than daily cents |
Why the Silver Rate Moves More Than Gold
Silver is both a precious metal and an industrial raw material. A large share of global demand comes from electronics, solar panels, electrical contacts and medical uses, so silver reacts to factory activity and technology cycles as well as to investor sentiment. Gold, by contrast, is driven mostly by central banks, jewellery and investment demand. The result is that silver prices tend to swing more sharply in percentage terms, in both directions.
Traders often watch the gold-silver ratio, which is simply the price of one unit of gold divided by the price of the same unit of silver. When the ratio is high, silver is cheap relative to gold; when it is low, silver is relatively expensive. It is a rough gauge, not a trading signal on its own, but it helps explain why silver sometimes rallies harder than gold after a period of lagging behind.
| Driver | Effect on Indian silver rate |
|---|---|
| International price (COMEX, London) | Sets the base; Indian rates follow within hours |
| Rupee vs US dollar | A weaker rupee raises the rupee price even if global prices are flat |
| Import duty changes | Directly shift the domestic price level |
| Industrial demand | Stronger manufacturing and solar demand support prices |
| Festive and wedding season | Local demand can widen retail premiums |
Selling Silver: Which Rate Do You Get?
When you sell, you are paid on the buying rate, which is lower than the selling rate on the board. The buyer tests purity, weighs the item and pays for the pure silver content minus a deduction. Making charges and GST you paid at purchase are not refunded. That is why plain 999 bars and coins lose the least value on resale, while intricate 925 jewellery and utensils lose the most. Keep invoices and assay certificates, and ask for the buyback terms in writing before you buy anything you may sell later.
Reading a Silver Rate Board Correctly
- Check the unit. Is the figure per gram, per 10 g or per kg?
- Check the purity. Most boards quote 999; jewellery is usually 925.
- Check whether GST is included. Most published rates exclude the 3% GST.
- Check the time. Morning and afternoon rates can differ on volatile days.
- Compare two sources. A gap of a few rupees per gram between websites is normal; a gap of more than a few percent usually means different units or purities.
Once you know the conversions, the per-gram and per-kg figures stop looking contradictory. Divide by a thousand, adjust for purity, add GST and any making charges, and you have the true cost of the silver in front of you.
Frequently asked questions
How do I convert the silver rate per kg to per gram?
Divide the per-kg rate by 1,000. For example, ₹2,40,000 per kg equals ₹240 per gram, before 3% GST.
Why is the MCX silver price different from the jeweller's price?
MCX quotes futures for a later expiry in rupees per kg of 999 silver, without taxes. Retail prices add dealer premium, local costs, GST and, for articles, making charges.
What is the GST on silver in India?
As of 2026, GST on silver is 3% of the value of the goods. It is usually added on the invoice rather than included in the board rate.
Is 925 silver priced at the same rate as 999 silver?
No. 925 sterling silver contains 92.5% silver, so its metal value is about 92.5% of the 999 rate for the same weight, plus making charges.
How many grams are in a tola of silver?
A traditional tola is about 11.66 grams, though some rate websites round it to 10 or 12 grams, so check the unit a site uses.
Check today's live gold rate in your city.
Gold rate todayWritten and reviewed by the The Gold Rate Today editorial team. Facts checked against primary sources; see the reference above.